We found that based on 2023 data, the largest potential for biogenic CO2 carbon capture in the Nordic countries is in the forest industry, mainly linked to pulp and paper production. The fossil CO2 capture potential is largest in the ‘other industries’ category, where the use of bioenergy is lower. Norway and Sweden hold the largest potential for capturing fossil carbon from industry emissions, followed by Finland. There are variations in how countries report emissions from waste incineration, which makes estimates uncertain. Currently municipal waste emissions are only included if waste is burned in ETS installations that utilize mixed fuels, or if countries have decided to voluntarily include certain waste incineration plants in the ETS.
The data compiled by EEA does not reflect all national emissions. The total emissions from energy, industrial processes and product use, waste, and CO2 emissions from biomass have been estimated in National Inventory Documents published in 2025 for inventory year 2023 (UNFCCC, 2025), and were 43.19, 73.21, 3.56, 44.33 and 87.66 Mt CO2 for Denmark, Finland, Iceland, Norway and Sweden, respectively. This shows that the PRTR database covers slightly more than half of the emissions for Finland and Sweden, around one third for Denmark and Norway, and around a quarter for Iceland. Even though ETS installations in the PRTR represent only a portion of all emitters, they are large point sources and could be considered cost-effective options before carbon capture technologies become affordable for smaller installations.
Since the European Commission Communication on Sustainable Carbon Cycles (EC, 2021), several new initiatives, such as the Industrial Carbon Management Strategy, have been launched to support the expansion of CO2 transport and infrastructure (EC, 2023; KEFM, 2023a). Administrative procedures and permission structures are being reviewed under the EU Net-Zero Industry Act (Regulation (EU) 2024/1735), and the planned Industrial Decarbonisation Accelerator Act (IDAA) (EC, 2025k; EU, 2024b). Cross-border infrastructure planning is supported by the Trans-European Energy Infrastructure Regulation (Regulation (EU) 2013/347) which can recognise specific projects as eligible for funding under the Connecting Europe Facility (EC, 2025h). A recent study shows that transport is a key enabler, and that early investments will shape value chains by determining locations and capacities of transport routes (Tumara et al., 2024). To facilitate the needed change, governments could allocate state funding to generate overcapacity in open-access transport and storage infrastructure (EU, 2023c) and enabling information exchange nationally and internationally. Studies also highlight that regulatory guidance and standardization are needed (IEA, 2021).
For many years, the London Protocol on the Prevention of Marine Pollution by Dumping of Wastes and Other Matter prohibited geological storage of CO2 in the seabed, as well as transporting CO2 to storage in another country. Amendments to the London Protocol now allow geological storage of CO2, while cross-border transport has not been ratified by enough countries. However, cross-border transportation is possible between countries that have ratified the amendment and have entered into arrangements (IEA, 2021). Currently, among the Nordic countries, Memoranda of Understanding exist between Denmark-Sweden, Norway-Denmark, Norway-Sweden, Finland-Denmark, Finland-Norway (IMO, 2025).
Some assessments indicate substantial technical storage potentials in Denmark (Hjelm et al., 2020) and Norway (Ministry of Energy Norway, 2024) in saline aquifers and depleted oil and gas fields. Iceland could have large potential for geological CO2 storage primarily through basalt mineralization (Snæbjörnsdóttir et al., 2014). Several storage projects have been permitted in Denmark, Iceland and Norway under specific conditions and following different approval processes (NCM, 2023). Finland lacks the aquifers for CO2 storage but might hold some potential for CO2 mineralization in near surface rock (Teir et al., 2010). CO2 storage is prohibited in Finland under the CCS-law transposing the CCS directive, and there are no sites that could be permitted (Ministry of the Environment Finland, 2025a). Sweden is carrying out geological investigations for both onshore and offshore storage, but it is possible that there will not be any domestic capacity by 2030 (Swedish Energy Agency, 2024).